Sprawling mansion once owned by tycoon Alan Bond hits the market for $50million - but real estate agent claims it would fetch DOUBLE if it was in Sydney

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A Perth waterfront mansion that once belonged to former Nine Network tycoon Alan Bond is on sale for more than $50 million.

The six-bedroom home with 14 bathrooms, a 21-seat cinema and the largest private resort-style pool in Australia was built for the late millionaire during the 1980s - the same decade his Australia II yacht won the America's Cup.

The Dalkeith mansion is set on 6,400 square metres of land on the Swan River foreshore and is the perfect entertainer, with a function room for more than 400 guests, a commercial bar, games room and a 10,000-bottle wine cellar.

The home once owned by the late tycoon Alan Bond features what is described as Australia's largest private resort-style pool

The opulent home is on the market for $50 million but selling agent William Porteous says it would fetch double that in Sydney

The pool even features a 12-seater swim-up bar and spa. A private boat launch, full-sized gym, sauna, squash court and flood-lit tennis court are also part of the package.

In another twist, the opulent home at 89 Watkins Road is being sold by William Porteous, the former husband of Perth socialite Rose Porteous, who was married to elderly mining magnate Lang Hancock.

He told The Australian he had already shown a 'very serious buyer' through the mansion, telling the newspaper the home would fetch 'close to $100 million' if it was in Sydney's ritzy harbour-side eastern suburbs.

'It's just beautiful, a work of art,' he said, adding it had been so extensively renovated since Mr Bond left that the home was 'nothing like when he had it'.

The home was commissioned by Mr Bond in the same decade he bought the Nine Network from Kerry Packer and sold it at a loss.

Property records show it was last sold for $39 million in 2011, in a leafy western suburb of Perth where the median house price stands at $2.6 million.

The mansion is the perfect entertainer with a commercial kitchen and a function room that can host more than 400 guests

The very grand house in Perth's western suburbs has panoramic views of the Swan River from the luxurious living areas

The mansion, designed by renowned architect Geoffrey Summerhays, has been renovated since Mr Bond was the chief resident with his first wife Eileen in the years before he was jailed for fraud.

'The house with its timeless architecture, has been enhanced and updated over the years to ensure its classic contemporary style is honed to perfection,' William Porteous Properties International said on its listing.

'This significant property has been called home by some of Australia's most affluent personalities.'

The mansion is being sold by Susan Gibson, whose ­former partner is mining entrepreneur Steve Wyatt, the project ­director at Mineral Resources, The Australian reported.

The grand marble foyer in one part of the mansion offers a glimpse of opulence and wealth in Perth's very ritzy Dalkeith

Alan Bond commissioned the mansion during the 1980s when his Australia II yacht won the America's Cup and he owned Nine

The trophy home was renovated by St Barbara boss Ross Atkins, who spent about $11 million on it after buying it from Bond in 1993 for $7.65 million, Mr Porteous told the newspaper. 

JR Engineering founder Barry Patterson and his wife Glenice bought the property in 1999 for $9.5 million. 

The house has 2,930sqm of internal living space spread over four levels.

It is described as having 'all the attributes of a luxury hotel, with the ability to transform from a secluded and private retreat into a fully equipped venue for the grandest of functions'. 

A competitive business executive would no doubt appreciate having access to a tennis court that is flood-lit at night time

'The elegant living spaces and vast wrap-around balcony allows 240-degree stunning river views that are second to none.' 

Assuming the wealthy buyer has spare cash to hire chefs, the mansion features two fully-equipped caterers kitchens and a walk-in cool room.

Stressed executives would also appreciate the 'pummel massage' shower room, a garden with ponds and water features, boat storage and a private boat launch.